EPISODE · Jun 24, 2024 · 11 MIN
"Sellers have little to show for their constant efforts."- Michael Oliver
from GoldFix · host VBL
This is a free preview of a paid episode. To hear more, visit vblgoldfix.substack.comHousekeeping: Good Morning.[Gold] sellers have little to show for their constant efforts. - Michael OliverToday:* Commentary: Sideways is Bullish again* Premium: Michael Oliver UpdateSession Recap: US equities retreated on Friday as Nvidia fell for a second straight day.Premium / Markets: Repeating PatternsGold Price and Open Interest…Gold:GoldFix Notes…Michael Oliver Agrees….After registering its annual, quarterly, and 100-wk. momentum “I’m back!” breakouts in early March (charts in prior reports), gold surged to over $2300 the first week of April. And shortly after over $2400. After that surge, price action has wandered sideways for twelve weeks. Clean Chart by: Founder Randall BSilver: If you’re a bear, you don’t want to even see silver trade this week up to $30.32 [Basis July Futures] much less close above there. Consider it a secondary signal from this already upturning weekly momentum situation.We have more excerpts of the metals portion in premium Continues in Premium…Market News: Trade Restraint Mercantile Style"The US will be forced to fund a massive increase in its budget deficit with short-term debt, analysts have said, with consequences for money markets and the battle against inflation.Source: FT"China has agreed to enter talks with the EU over its decision to impose higher tariffs on imports of Chinese electric vehicles, Source: FT"Chipmaker Nvidia became the most valuable publicly traded U.S. company for a period this week, topping Apple and Microsoft. However, Nvidia is nowhere to be found on the list of best-known brands, Source: CNBC"Apple is withholding a raft of new technologies from hundreds of millions of consumers in the European Union, citing concerns posed by the bloc’s regulatory attempts to rein in Big Tech. - Source: BloombergGeopolitics: Israeli Border Flex* Israeli PM Netanyahu said the phase of intense fighting against Hamas is coming to an end but added it does not mean an end to the war in Gaza* Security and political talks were reportedly underway in Israel to choose the right timing for action in the north, according to Israel's Channel 12.* US top general warned that an Israeli offensive in Lebanon could increase risks of a broader conflict that draws in Iran, according to Reuters.* Shrapnel from an intercepted US-made missile fired by Ukraine hit a beach packed with sunbathing tourists in occupied Crimea on Sunday, according to The Telegraph. It was separately reported that Russia’s Defence Ministry said that responsibility for the shelling of Crimea’s Sevastopol lies primarily with the US and that there will be a response to the shelling, according to Reuters.* Yemen’s Houthis said they carried out two military operations in the Arabian and Red Seas in which it targeted the Trans World Navigator ship in the Arabian Sea and targeted US aircraft carrier Eisenhower in the Red Sea, according to Reuters.* Ukraine said Russia launched an air attack on Kyiv and its region, while air defence systems engaged in repelling the attack.Some headlines via NewSquawk or DataTrekData on Deck: * MONDAY, JUNE 24 speeches* TUESDAY, JUNE 25 speeches, S&P Case-Shiller home price index (20 cities) * WEDNESDAY, JUNE 26 10:00 am New home sales May * THURSDAY, JUNE 27 Pending home sales May 1.0% -7.7% * FRIDAY, JUNE 28 8:30 am PCE (year-over-year) 2.6% 2.7% 8:30 am Premium:* GoldFix Sunday Discussion: The Gold Open Interest Story Gets Interesting* Precious Metals Excerpts courtesy the MSA Weekly Update ***DO NOT SHARE THIS***
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"Sellers have little to show for their constant efforts."- Michael Oliver
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